QFC ARBITRATION REGULATIONS

VER 1-NOV 2005

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QATAR FINANCIAL CENTRE

REGULATION NO. 8 of 2005

QFC ARBITRATION REGULATIONS

The Minister of Economy and Commerce hereby enacts the following regulations pursuant to

Article 9 of Law No. (7) of 2005.

Mohamed bin Ahmed bin Jassim Al Thani

Minister of Economy and Commerce of the State of Qatar

Issued at: The Qatar Financial Centre, Doha

On: 20 Shawal 1426 A.H.

Corresponding to: 22 November 2005 A.D.

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CONTENTS

PART 1 – APPLICATION, INTERPRETATION AND COMMENCEMENT ........................... 5

Article 1 – Citation .......................................................................................... 5

Article 2 – Application ..................................................................................... 5

Article 3 – Commencement .............................................................................. 5

Article 4 – Language ....................................................................................... 5

Article 5 – Interpretation ................................................................................. 5

PART 2 – SCOPE OF APPLICATION ............................................................................ 6

Article 6 – Scope of application of the Regulations .............................................. 6

PART 3 – ARBITRATION ............................................................................................ 7

SECTION 1 – GENERAL PROVISIONS ........................................................................ 7

Article 7 – Rules of interpretation ..................................................................... 7

Article 8 – Receipt of written communications .................................................... 7

Article 9 – Waiver of right to object .................................................................. 7

SECTION 2 – ARBITRATION AGREEMENT .................................................................. 8

Article 10 – Definition and form of Arbitration Agreement .................................... 8

Article 11 – Arbitration Agreement and substantive claim before Court .................. 8

Article 12 – Arbitration Agreement and interim measures by Court ....................... 9

SECTION 3 – COMPOSITION OF ARBITRAL PANEL .................................................. 10

Article 13 – Number of arbitrators .................................................................. 10

Article 14 – Appointment of arbitrators ........................................................... 10

Article 15 – Grounds for challenge .................................................................. 11

Article 16 – Challenge procedure .................................................................... 11

Article 17 – Failure or impossibility to act ........................................................ 11

Article 18 – Appointment of substitute arbitrator .............................................. 12

Article 19 – Immunity of arbitrator ................................................................. 12

SECTION 4 – CONSOLIDATION OF ARBITRATION PROCEEDINGS ........................... 13

Article 20 – Consolidation or joinder of Arbitration proceedings .......................... 13

SECTION 5 – JURISDICTION OF ARBITRAL PANEL.................................................. 14

Article 21 – Competence of Arbitral Panel to rule on its jurisdiction ..................... 14

Article 22 – Power of Arbitral Panel to order interim measures ........................... 14

Article 23 – Recognition and enforcement of interim measures of protection ........ 15

SECTION 6 – CONDUCT OF ARBITRAL PROCEEDINGS ............................................. 17

Article 24 – Equal treatment of parties ............................................................ 17

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Article 25 – Determination of rules of procedure ............................................... 17

Article 26 – Seat of Arbitration ....................................................................... 17

Article 27 – Commencement of arbitral proceedings ......................................... 17

Article 28 – Language ................................................................................... 17

Article 29 – Statements of claim and defence ................................................... 18

Article 30 – Hearings and written proceedings .................................................. 18

Article 31 – Default of a party ........................................................................ 18

Article 32 – Expert appointed by Arbitral Panel ................................................. 18

Article 33 – Court assistance in taking evidence ............................................... 19

SECTION 7 – MAKING OF AWARD AND TERMINATION OF PROCEEDINGS ............... 20

Article 34 – Rules applicable to substance of dispute ......................................... 20

Article 35 – Decision making by panel of arbitrators.......................................... 20

Article 36 – Settlement ................................................................................. 20

Article 37 – Form and contents of Award ......................................................... 20

Article 38 – Costs of proceedings and interest .................................................. 21

Article 39 – Termination of proceedings........................................................... 21

Article 40 – Correction and interpretation of Award; additional Award ................. 21

SECTION 8 – RECOURSE AGAINST AWARD ............................................................. 23

Article 41 – Application for setting aside as exclusive recourse against Award ...... 23

PART 4 – THE RECOGNITION AND ENFORCEMENT OF NON-QFC AWARDS ............... 24

Article 42 – Recognition and enforcement of Non-QFC Awards ........................... 24

Article 43 – Grounds for refusing recognition or enforcement ............................. 24

PART 5 – INTERPRETATION AND DEFINITIONS...................................................... 26

Article 44 – Interpretation ............................................................................. 26

Article 45 – Definitions .................................................................................. 27

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PART 1 – APPLICATION, INTERPRETATION AND COMMENCEMENT

ARTICLE 1 – CITATION

These Regulations may be referred to as the Arbitration Regulations 2005.

ARTICLE 2 – APPLICATION

These Regulations are made by the Minister pursuant to Article 9 of the QFC Law and

shall apply in the QFC. To the fullest extent permitted by the QFC Law, the laws, rules

and regulations of the State concerning Arbitration shall not apply in the QFC.

ARTICLE 3 – COMMENCEMENT

These Regulations shall come into force on the date of signature by the Minister.

ARTICLE 4 – LANGUAGE

In accordance with Article 9 of the QFC Law, these Regulations are written in the

English language and the English text thereof shall be the official original text. Any

translation thereof into another language shall not be authoritative and in the event

of any discrepancy between the English text of these Regulations and any other

version, the English text shall prevail.

ARTICLE 5 – INTERPRETATION

Words and expressions used in these Regulations and interpretative provisions

applying to these Regulations are set out in Part 5.

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PART 2 – SCOPE OF APPLICATION

ARTICLE 6 – SCOPE OF APPLICATION OF THE REGULATIONS

(1) Parts 1 to 4 of these Regulations apply where the QFC is the Seat of an

Arbitration.

(2) Articles 11, 12, 23 and Part 4 of these Regulations also apply where the Seat

is one other than that of the QFC or where no Seat has been designated or

determined.

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PART 3 – ARBITRATION

SECTION 1 – GENERAL PROVISIONS

ARTICLE 7 – RULES OF INTERPRETATION

(1) Where a provision of these Regulations, except Article 34, leaves the parties

free to determine a certain issue, such freedom includes the right of the

parties to authorise a third party, including an institution, to make that

determination.

(2) Where a provision of these Regulations refers to the fact that the parties have

agreed or that they may agree or in any other way refers to an agreement of

the parties, such agreement includes any arbitration rules referred to in that

agreement.

(3) Where a provision of these Regulations, other than in Articles 31(1) and

39(2)(A), refers to a claim, it also applies to a counterclaim, and where it

refers to a defence, it also applies to a defence to such counterclaim.

ARTICLE 8 – RECEIPT OF WRITTEN COMMUNICATIONS

(1) Unless otherwise agreed by the parties to a dispute:

(A) any written communication is taken to have been received if it is

delivered to the addressee personally or if it is delivered at his place of

business, habitual residence, mailing address or address for the receipt

of facsimiles, telex, email or any other means of telecommunication that

provides a record of transmission; if none of these can be found after

making a reasonable inquiry, a written communication is taken to have

been received if it is sent to the addressee's last-known place of

business, habitual residence or mailing address by registered letter or by

any other means which provides a record of the attempt to deliver it or

of its transmission to that party; and

(B) the communication is taken to have been received on the day it is so

delivered.

(2) The provisions of this Article do not apply to communications in Court

proceedings.

ARTICLE 9 – WAIVER OF RIGHT TO OBJECT

A party who knows that any provision of these Regulations from which the parties

may derogate or any requirement under the Arbitration Agreement has not been

complied with and yet proceeds with the Arbitration without stating his objection to

such non-compliance without undue delay or, if a time limit is provided therefor,

within such period of time, shall be deemed to have waived his right to object.

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SECTION 2 – ARBITRATION AGREEMENT

ARTICLE 10 – DEFINITION AND FORM OF ARBITRATION

AGREEMENT

(1) An Arbitration Agreement is an agreement by the parties to submit to

Arbitration all or certain disputes which have arisen or which may arise

between them in respect of a defined legal relationship, whether contractual

or not. An Arbitration Agreement must be in writing and may be in the form of

an arbitration clause in a contract or in the form of a separate agreement.

(2) Any standard term or condition of membership or licence or other association

with the QFC which requires parties to arbitrate disputes shall be considered a

binding Arbitration Agreement under these Regulations.

(3) An Arbitration Agreement is taken to be in writing if the arbitration clause or

arbitration terms and conditions or any arbitration rules referred to by the

Arbitration Agreement are in writing, even if the contract or the separate

Arbitration Agreement may have been concluded orally, by conduct or by

other means not in writing.

(4) Furthermore, an Arbitration Agreement is in writing if it is contained in an

exchange of documents in, or preparatory to, Court or Arbitration proceedings

in which the existence of an agreement is alleged by one party and not denied

by the other.

(5) The reference in a contract to a text containing an arbitration clause

constitutes an Arbitration Agreement provided that (i) the reference is such as

to make that clause part of the contract and (ii) the text actually existed when

the contract containing the reference to it was entered into.

(6) The written arbitration terms and conditions, together with any writing

incorporating by reference or containing those terms and conditions, or which

those terms and conditions incorporate by reference, constitute the Arbitration

Agreement.

(7) For the purposes of this Article:

(A) "writing" includes any form that provides a tangible record of the

agreement or is otherwise accessible as a data message so as to be

usable for subsequent reference; and

(B) "data message" means information generated, sent, received or stored

by electronic, optical or similar means including, but not limited to,

electronic data interchange, electronic mail, telegram, telex or telecopy.

ARTICLE 11 – ARBITRATION AGREEMENT AND SUBSTANTIVE

CLAIM BEFORE COURT

(1) If an action is brought before the QFC Tribunal in a matter which is the subject

of an Arbitration Agreement, the QFC Tribunal shall, if a party so requests not

later than when submitting his first statement on the substance of the dispute,

refer the parties to Arbitration unless it finds that the Arbitration Agreement is

null and void, inoperative or incapable of being performed.

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(2) Where an action referred to in paragraph 11(1) of this Article has been

brought, arbitral proceedings may nevertheless be commenced or continued,

and an award may be made, while the issue is pending before the QFC

Tribunal.

ARTICLE 12 – ARBITRATION AGREEMENT AND INTERIM MEASURES BY COURT

(1) It is not incompatible with an Arbitration Agreement for a party to request,

before or during arbitral proceedings, from a Court an interim measure of

protection and for a Court to grant such measure.

(2) The QFC Tribunal shall have the same power of issuing interim measures and

protection for the purposes of and in relation to Arbitration proceedings as it

has for the purposes of and in relation to other proceedings in the QFC

Tribunal and shall exercise that power in accordance with its own rules and

procedures insofar as these are relevant to the specific features of an

Arbitration.

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SECTION 3 – COMPOSITION OF ARBITRAL PANEL

ARTICLE 13 – NUMBER OF ARBITRATORS

(1) The parties are free to determine the number of arbitrators provided that it is

an odd number.

(2) Failing such determination, the number of arbitrators shall be three unless, in

the case of an Administered Arbitration, the arbitral institution considers it

appropriate to have a sole arbitrator.

ARTICLE 14 – APPOINTMENT OF ARBITRATORS

(1) No person shall be precluded by reason of his nationality from acting as an

arbitrator, unless otherwise agreed by the parties.

(2) The parties are free to agree on a procedure of appointing the arbitrator or

arbitrators, subject to the provisions of paragraphs 14(4) and 14(5) of this

Article.

(3) Failing such agreement,

(A) in an Arbitration with three arbitrators, each party shall appoint one

arbitrator, and the two arbitrators thus appointed shall appoint the third

arbitrator; if a party fails to appoint the arbitrator within 30 days of

receipt of a request to do so from the other party, or if the two

arbitrators fail to agree on the third arbitrator within 30 days of their

appointment, the appointment shall be made, upon request of a party,

by the QFC Tribunal;

(B) in an Arbitration with a sole arbitrator, if the parties are unable to agree on

the arbitrator within 30 days of receipt of a request to do so from the other

party, he shall be appointed, upon request of a party, by the QFC Tribunal.

(4) Where, under an appointment procedure agreed upon by the parties,

(A) a party fails to act as required under such procedure; or

(B) the parties, or two arbitrators, are unable to reach an agreement

expected of them under such procedure; or

(C) a third party, including an arbitral institution, fails to perform any

function entrusted to it under such procedure

any party may request the QFC Tribunal to take the necessary measure,

unless the agreement on the appointment procedure provides other means for

securing the appointment.

(5) A decision on a matter entrusted by paragraph 14(3) or 14(4) of this Article to

the QFC Tribunal shall not be subject to appeal. The Court, in appointing an

arbitrator, shall have due regard to any qualifications required of the arbitrator

by the agreement of the parties and to such considerations as are likely to

secure the appointment of an independent and impartial arbitrator and, in the

case of a sole or third arbitrator, shall take into account as well the advisability

of appointing an arbitrator of a nationality other than that of any party.

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ARTICLE 15 – GROUNDS FOR CHALLENGE

(1) When a person is approached in connection with his possible appointment as

an arbitrator, he shall disclose any circumstances likely to give rise to

justifiable doubts as to his impartiality or independence. An arbitrator, from

the time of his appointment and throughout the arbitral proceedings, shall

without delay disclose any such circumstances to the parties and any arbitral

institution administering the Arbitration unless they have already been so

informed by him.

(2) An arbitrator may be challenged only if circumstances exist that give rise to

justifiable doubts as to his impartiality or independence, or if he does not

possess qualifications agreed to by the parties. A party may challenge an

arbitrator appointed by him, or in whose appointment he has participated,

only for reasons of which he becomes aware after the appointment has been

made.

ARTICLE 16 – CHALLENGE PROCEDURE

(1) The parties are free to agree on a procedure for challenging an arbitrator,

subject to the provisions of paragraph 16(3) of this Article.

(2) Failing such agreement, a party who intends to challenge an arbitrator shall,

within fifteen days after becoming aware of the constitution of the Arbitral

Panel or after becoming aware of any circumstance referred to in Article

15(2), send a written statement of the reasons for the challenge to the

Arbitral Panel. Unless the challenged arbitrator withdraws from his office or

the other party agrees to the challenge, the Arbitral Panel shall decide on the

challenge.

(3) If a challenge under any procedure agreed upon by the parties or under the

procedure of paragraph 16(2) of this Article is not successful, the challenging

party may request, within thirty days after having received notice of the

decision rejecting the challenge, the QFC Tribunal to decide on the challenge,

which decision shall be subject to no appeal; while such a request is pending,

the Arbitral Panel, including the challenged arbitrator, may continue the

arbitral proceedings and make an Award.

ARTICLE 17 – FAILURE OR IMPOSSIBILITY TO ACT

(1) If an arbitrator becomes as a matter of fact or law unable to perform his

functions or for other reasons fails to act without undue delay, his mandate

terminates if he withdraws from his office or if the parties agree on the

termination. Otherwise, if a controversy remains concerning any of these

grounds, any party may request the QFC Tribunal to decide on the termination

of the mandate, which decision shall be subject to no appeal.

(2) If, under this Article or Article 16(2), an arbitrator withdraws from his office or

a party agrees to the termination of the mandate of an arbitrator, this does

not imply acceptance of the validity of any ground referred to in this Article or

Article 15(2).

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ARTICLE 18 – APPOINTMENT OF SUBSTITUTE ARBITRATOR

Where the mandate of an arbitrator terminates under Articles 16 or 17 or because

of his withdrawal from office for any other reason or because of the revocation of

his mandate by agreement of the parties or in any other case of termination of his

mandate, a substitute arbitrator shall be appointed according to the rules that were

applicable to the appointment of the arbitrator being replaced, unless otherwise

agreed by the parties.

ARTICLE 19 – IMMUNITY OF ARBITRATOR

An arbitrator shall not be liable for anything done or omitted in the discharge or

purported discharge of his functions as arbitrator unless the act or omission is

shown to have been in bad faith.

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SECTION 4 – CONSOLIDATION OF ARBITRATION PROCEEDINGS

ARTICLE 20 – CONSOLIDATION OR JOINDER OF ARBITRATION

PROCEEDINGS

The QFC Tribunal, on the application of the parties to two or more Arbitration

proceedings, may order:

(1) the Arbitration proceedings to be consolidated, on terms it considers just;

(2) the Arbitration proceedings to be heard at the same time, or one immediately

after another; or

(3) any of the Arbitration proceedings to be stayed until after the determination of

any other of them.

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SECTION 5 – JURISDICTION OF ARBITRAL PANEL

ARTICLE 21 – COMPETENCE OF ARBITRAL PANEL TO RULE ON

ITS JURISDICTION

(1) The Arbitral Panel may rule on its own jurisdiction, including any objections

with respect to the existence or validity of the Arbitration Agreement. For that

purpose, an arbitration clause which forms part of a contract shall be treated

as an agreement independent of the other terms of the contract. A decision by

the Arbitral Panel that the contract is null and void shall not by itself

determine the invalidity of the arbitration clause.

(2) A plea by a respondent or other party that the Arbitral Panel does not have

jurisdiction shall be raised not later than the submission of his defence or, for

another party, his first written statement in the Arbitration. A party is not

precluded from raising such a plea by the fact that he has appointed, or

participated in the appointment of, an arbitrator. A plea that the Arbitral Panel

is exceeding the scope of its authority shall be raised as soon as the matter

alleged to be beyond the scope of its authority is identified during the arbitral

proceedings. The Arbitral Panel may, in either case, admit a later plea if it

considers the delay justified.

(3) The Arbitral Panel may rule on a plea referred to in paragraph 21(2) of this

Article either as a preliminary question or in an Award on the merits. If the

Arbitral Panel rules as a preliminary question that it has jurisdiction, any party

may request, within thirty days after having received notice of that ruling, the

QFC Tribunal to decide the matter, which decision shall be subject to no

appeal; while such a request is pending, the Arbitral Panel may continue the

arbitral proceedings and make an Award.

ARTICLE 22 – POWER OF ARBITRAL PANEL TO ORDER INTERIM

MEASURES

(1) Unless otherwise agreed by the parties, the Arbitral Panel may, at the request

of a party, grant interim measures of protection.

(2) An interim measure of protection is any temporary measure whether in the

form of an Award or in another form by which, at any time prior to the

issuance of the award by which the dispute is finally decided, the Arbitral

Panel orders a party to:

(A) maintain or restore the status quo pending determination of the dispute;

(B) take action that would prevent, or refrain from taking action that is likely

to cause, current or imminent harm, or to prejudice the arbitral process

itself;

(C) provide a means of preserving assets out of which a subsequent award

may be satisfied; or

(D) preserve evidence that may be relevant and material to the resolution of

the dispute.

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(3) The party requesting the interim measure of protection shall satisfy the

Arbitral Panel that:

(A) harm not adequately reparable by an award of damages is likely to

result if the measure is not ordered, and such harm substantially

outweighs the harm that is likely to result to the party against whom the

measure is directed if the measure is granted; and

(B) there is a reasonable possibility that the requesting party will succeed on

the merits, provided that any determination on this possibility shall not

affect the discretion of the Arbitral Panel in making any subsequent

determination.

(4) The Arbitral Panel may require the requesting party or any other party to

provide appropriate security in connection with such interim measure of

protection.

(5) The requesting party shall promptly make disclosure of any material change in

the circumstances on the basis of which the party made the request for, or the

Arbitral Panel granted, the interim measure of protection.

(6) The Arbitral Panel may modify, suspend or terminate an interim measure of

protection it has granted, at any time, upon application of any party or, in

exceptional circumstances, on the Panel’s own initiative, upon prior notice to

the parties.

(7) The requesting party shall be liable for any costs and damages caused by the

interim measure of protection to the party against whom it is directed, if the

Arbitral Panel later determines that, in the circumstances, the interim

measure should not have been granted. The Arbitral Panel may order an

award of costs and damages at any point during the proceedings.

ARTICLE 23 – RECOGNITION AND ENFORCEMENT OF INTERIM MEASURES OF PROTECTION

(1) An interim measure of protection issued by an Arbitral Panel shall be

recognised as binding and, unless otherwise provided by the Arbitral Panel,

enforced upon application to the QFC Tribunal, irrespective of the country in

which it was issued, subject to the provisions of this Article.

(2) The QFC Tribunal may refuse to enforce an interim measure of protection,

only:

(A) at the request of the party against whom it is invoked, if the QFC

Tribunal is satisfied that:

(i) such refusal is warranted on the grounds set forth in Article

43(1)(A)(i), (ii), (iii) or (iv); or

(ii) any requirement to provide appropriate security in connection with

the interim measure issued by the Arbitral Panel has not been

complied with; or

(iii) the interim measure has been terminated or suspended by the

Arbitral Panel or, where so empowered, by the Court of the state in

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which the Arbitration takes place or under the law of which that

interim measure was granted; or

(B) if the QFC Tribunal finds that:

(i) the interim measure is incompatible with the powers conferred upon

the QFC Tribunal, unless the QFC Tribunal decides to reformulate

the interim measure to the extent necessary to adapt it to its own

powers and procedures for the purposes of enforcing that interim

measure and without modifying its substance; or

(ii) any of the grounds set forth in Article 43(1)(B)(i) or (ii) apply to the

enforcement of the interim measure.

(3) Any determination made by the QFC Tribunal on any ground in paragraph

23(2) of this Article shall be effective only for the purposes of the application

to recognise and enforce the interim measure of protection. The QFC Tribunal

where recognition or enforcement is sought shall not, in exercising that

power, undertake a review of the substance of the interim measure.

(4) The party who is seeking or has obtained recognition or enforcement of an

interim measure of protection shall promptly inform the QFC Tribunal of any

termination, suspension or modification of that interim measure.

(5) The QFC Tribunal where recognition or enforcement is sought may if it

considers it proper require the requesting party to provide appropriate

security, if the Arbitral Panel has not already made a determination with

respect to security, or where such a decision is necessary to protect the rights

of third parties.

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SECTION 6 – CONDUCT OF ARBITRAL PROCEEDINGS

ARTICLE 24 – EQUAL TREATMENT OF PARTIES

The parties shall be treated with equality and each party shall be given a full

opportunity of presenting his case.

ARTICLE 25 – DETERMINATION OF RULES OF PROCEDURE

(1) Subject to the provisions of these Regulations, the parties are free to agree on

the procedure to be followed by the Arbitral Panel in conducting the

proceedings.

(2) Failing such agreement, the Arbitral Panel may, subject to the provisions of

these Regulations, conduct the Arbitration in such manner as it considers

appropriate. The power conferred upon the Arbitral Panel includes the power

to determine the admissibility, relevance, materiality and weight of any

evidence.

ARTICLE 26 – SEAT OF ARBITRATION

(1) The parties are free to agree on the Seat of Arbitration. Failing such

agreement, the Seat shall be determined by the Arbitral Panel or, in the case

of an Administered Arbitration, the arbitral institution, having regard to the

circumstances of the case, including the convenience of the parties.

(2) Notwithstanding the provisions of paragraph 26(1) of this Article, the Arbitral

Panel may, unless otherwise agreed by the parties, meet at any place it

considers appropriate for consultation among its members, for hearing

witnesses, experts or the parties, or for inspection of goods, other property or

documents relevant to the dispute.

ARTICLE 27 – COMMENCEMENT OF ARBITRAL PROCEEDINGS

Unless otherwise agreed by the parties, the arbitral proceedings in respect of a

particular dispute commence on the date on which a request for that dispute to be

referred to Arbitration is received by the respondent.

ARTICLE 28 – LANGUAGE

(1) The parties are free to agree on the language or languages to be used in the

arbitral proceedings. Failing such agreement, the Arbitral Panel shall

determine the language or languages to be used in the proceedings. This

agreement or determination, unless otherwise specified therein, shall

thereafter apply to any written statement by a party, any hearing and any

award, decision or other communication by the Arbitral Panel.

(2) The Arbitral Panel may order that any documentary evidence shall be

accompanied by a translation into the language or languages agreed upon by

the parties or determined by the Arbitral Panel.

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ARTICLE 29 – STATEMENTS OF CLAIM AND DEFENCE

(1) Within the period of time agreed by the parties or determined by the Arbitral

Panel, the claimant shall state the facts supporting his claim, the points at

issue and the relief or remedy sought, and the respondent shall state his

defence in respect of these particulars, unless the parties have otherwise

agreed as to the required elements of such statements. The parties may

submit with their statements all documents they consider to be relevant or

may add a reference to the documents or other evidence they will submit.

(2) Unless otherwise agreed by the parties, either party may amend or

supplement his claim or defence during the course of the arbitral proceedings,

unless the Arbitral Panel considers it inappropriate to allow such amendment

having regard to the delay in making it.

ARTICLE 30 – HEARINGS AND WRITTEN PROCEEDINGS

(1) Subject to any contrary agreement by the parties, the Arbitral Panel shall

decide whether to hold oral hearings for the presentation of evidence or for

oral argument, or whether the proceedings shall be conducted on the basis of

documents and other materials. However, unless the parties have agreed that

no hearing shall be held, the Arbitral Panel shall hold such hearings at an

appropriate stage of the proceedings, if so requested by a party.

(2) The parties shall be given sufficient advance notice of any hearing and of any

meeting of the Arbitral Panel for the purposes of inspection of goods, other

property or documents relevant to the dispute.

(3) All statements, documents or other information supplied to the Arbitral Panel

by one party shall be communicated to the other party. Also any expert report

or evidentiary document on which the Arbitral Panel may rely in making its

decision shall be communicated to the parties.

ARTICLE 31 – DEFAULT OF A PARTY

Unless otherwise agreed by the parties, if, without showing sufficient cause:

(1) the claimant fails to communicate his statement of claim in accordance with

Article 29(1), the Arbitral Panel may terminate the proceedings;

(2) the respondent fails to communicate his statement of defence in accordance

with Article 29(1), the Arbitral Panel shall continue the proceedings without

treating such failure in itself as an admission of the claimant's allegations; and

(3) any party fails to appear at a hearing or to produce documentary evidence,

the Arbitral Panel may continue the proceedings and make the Award on the

evidence before it.

ARTICLE 32 – EXPERT APPOINTED BY ARBITRAL PANEL

(1) Unless otherwise agreed by the parties, the Arbitral Panel:

(A) may appoint one or more experts to report to it on specific issues to be

determined by the Arbitral Panel; and

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(B) may require a party to give the expert any relevant information or to

produce, or to provide access to, any relevant documents, goods or

other property for his inspection.

(2) Unless otherwise agreed by the parties, if a party so requests or if the Arbitral

Panel considers it necessary, the expert shall, after delivery of his written or

oral report, participate in a hearing where the parties have the opportunity to

put questions to him and to present expert witnesses in order to testify on the

points at issue.

ARTICLE 33 – COURT ASSISTANCE IN TAKING EVIDENCE

The Arbitral Panel or a party with the approval of the Arbitral Panel may request

from the QFC Tribunal assistance in taking evidence. The QFC Tribunal may execute

the request within its competence and according to its rules on taking evidence.

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SECTION 7 – MAKING OF AWARD AND TERMINATION OF PROCEEDINGS

ARTICLE 34 – RULES APPLICABLE TO SUBSTANCE OF DISPUTE

(1) The Arbitral Panel shall decide the dispute in accordance with such rules of law

as are chosen by the parties as applicable to the substance of the dispute. Any

designation of the law or legal system of a given state or jurisdiction shall be

construed, unless otherwise expressed, as directly referring to the substantive

law of that state or jurisdiction and not to its conflict of laws rules.

(2) Failing any designation by the parties, the Arbitral Panel shall apply the law

determined by the conflict of laws rules which it considers applicable.

(3) The Arbitral Panel shall decide according to equity and good conscience only if

the parties have expressly authorised it to do so, whether before or after the

Arbitration has commenced.

(4) In all cases, the Arbitral Panel shall decide in accordance with the terms of the

contract and applicable law, and shall take into account the usages of the

trade applicable to the transaction.

ARTICLE 35 – DECISION MAKING BY PANEL OF ARBITRATORS

In arbitral proceedings with more than one arbitrator, any decision of the Arbitral

Panel shall be made, unless otherwise agreed by the parties, by a majority of all its

members. However, questions of procedure may be decided by a presiding arbitrator,

if so authorised by the parties or all members of the Arbitral Panel.

ARTICLE 36 – SETTLEMENT

(1) If, during arbitral proceedings, the parties settle the dispute, the Arbitral Panel

shall terminate the proceedings and, if requested by the parties and not

objected to by the Arbitral Panel, record the settlement in the form of an

Award on agreed terms.

(2) An Award on agreed terms shall be made in accordance with the provisions of

Article 37 and shall state that it is an Award. Such an Award has the same

status and effect as any other Award on the merits of the case.

ARTICLE 37 – FORM AND CONTENTS OF AWARD

(1) The Award shall be made in writing and shall be signed by the arbitrator or

arbitrators. In arbitral proceedings with more than one arbitrator, the

signatures of the majority of all members of the Arbitral Panel shall suffice,

provided that the reason for any omitted signature is stated.

(2) The Award shall state the reasons upon which it is based, unless the parties

have agreed that no reasons are to be given or the Award is an Award on

agreed terms under Article 36.

(3) The Award shall state its date and the Seat of Arbitration as determined in

accordance with Article 26(1). The Award shall be deemed to have been made

at the Seat.

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(4) After the Award is made, a copy signed by the arbitrators in accordance with

paragraph 37(1) of this Article shall be delivered to each party.

ARTICLE 38 – COSTS OF PROCEEDINGS AND INTEREST

Unless the parties to an Arbitration Agreement have (whether in the agreement or

in any other document in writing) otherwise agreed, an Arbitral Panel may in

making an Award:

(1) direct to whom, by whom, and in what manner, the whole or any part of the

costs that it awards shall be paid;

(2) fix the amount of costs to be paid or any part of those costs; and

(3) award interest on any sums it directs to be paid.

ARTICLE 39 – TERMINATION OF PROCEEDINGS

(1) The arbitral proceedings are terminated by the final Award or by an order of

the Arbitral Panel in accordance with paragraph 39(2) of this Article.

(2) The Arbitral Panel shall issue an order for the termination of the arbitral

proceedings when:

(A) the claimant withdraws his claim, unless the respondent objects thereto

and the Arbitral Panel recognises a legitimate interest on his part in

obtaining a final settlement of the dispute;

(B) the parties agree on the termination of the proceedings; or

(C) the Arbitral Panel finds that the continuation of the proceedings has for

any other reason become unnecessary or impossible.

(3) The mandate of the Arbitral Panel terminates with the termination of the

arbitral proceedings, subject to the provisions of Articles 40 and 41(4).

ARTICLE 40 – CORRECTION AND INTERPRETATION OF AWARD; ADDITIONAL AWARD

(1) Within 30 days of receipt of the Award, unless another period of time has

been agreed upon by the parties:

(A) a party, with notice to the other party, may request the Arbitral Panel to

correct in the Award any errors in computation, any clerical or

typographical errors or any errors of similar nature; and

(B) if so agreed by the parties, a party, with notice to the other party, may

request the Arbitral Panel to give an interpretation of a specific point or

part of the Award.

If the Arbitral Panel considers the request to be justified, it shall make the

correction or give the interpretation within thirty days of receipt of the

request. The interpretation shall form part of the Award.

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(2) The Arbitral Panel may correct any error of the type referred to in paragraph

40(1)(A) of this Article on its own initiative within 30 days of the date of the

Award.

(3) Unless otherwise agreed by the parties or in respect of an agreed Award made

under Article 36, a party, with notice to the other party, may request, within

30 days of receipt of the Award, the Arbitral Panel to make an additional

Award as to claims presented in the arbitral proceedings but omitted from the

Award. If the Arbitral Panel considers the request to be justified, it shall make

the additional Award within 60 days.

(4) The Arbitral Panel may extend, if necessary, the period of time within which it

shall make a correction, interpretation or an additional Award under

paragraph 40(1) or 40(3) of this Article.

(5) The provisions of Article 37 shall apply to a correction or interpretation of the

Award or to an additional Award.

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SECTION 8 – RECOURSE AGAINST AWARD

ARTICLE 41 – APPLICATION FOR SETTING ASIDE AS EXCLUSIVE

RECOURSE AGAINST AWARD

(1) Recourse to the QFC Tribunal against an Award may be made only by an

application for setting aside in accordance with paragraphs 41(2) and 41(3) of

this Article. Such application may only be made to the QFC Tribunal.

(2) An Award may be set aside by the QFC Tribunal only if:

(A) the party making the application furnishes proof that:

(i) a party to the Arbitration Agreement was under some incapacity; or the

said agreement is not valid under the law to which the parties have

subjected it or, failing any indication thereon, under the law of the QFC;

(ii) the party making the application was not given proper notice of the

appointment of an arbitrator or of the arbitral proceedings or was

otherwise unable to present his case;

(iii) the Award deals with a dispute not contemplated by or not falling

within the terms of the submission to Arbitration, or contains

decisions on matters beyond the scope of the submission to

Arbitration, provided that, if the decisions on matters submitted to

Arbitration can be separated from those not so submitted, only that

part of the Award which contains decisions on matters not submitted

to Arbitration may be set aside; or

(iv) the composition of the Arbitral Panel or the arbitral procedure was

not in accordance with the agreement of the parties, unless such

agreement was in conflict with a provision of these Regulations from

which the parties cannot derogate, or, failing such agreement, was

not in accordance with these Regulations; or

(B) if the QFC Tribunal finds that:

(i) the subject-matter of the dispute is not capable of settlement by

Arbitration under QFC Law; or

(ii) the Award is not in the interest of the QFC.

(3) Except as set out herein, an application for setting aside may not be made

after three months have elapsed from the date on which the party making

that application had received the Award or, if a request had been made under

Article 40, from the date on which that request had been disposed of by the

Arbitral Panel. The time limit set out above shall not apply to an application to

the QFC Tribunal to have an Award set aside on the grounds that the Award is

in conflict with the public policy of the QFC.

(4) The QFC Tribunal, when asked to set aside an Award, may, where appropriate

and so requested by a party, suspend the setting-aside proceedings for a period

of time determined by it in order to give the Arbitral Panel an opportunity to

resume the arbitral proceedings or to take such other action as in the Arbitral

Panel's opinion will eliminate the grounds for setting aside.

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PART 4 – THE RECOGNITION AND ENFORCEMENT OF NON-QFC AWARDS

ARTICLE 42 – RECOGNITION AND ENFORCEMENT OF NON-QFC

AWARDS

(1) An Award, which for the purpose of this Part only shall include a Non-QFC

Award, shall be recognised as binding and shall be enforced in the QFC in

accordance with the provisions of this Part.

(2) The QFC Tribunal has sole and exclusive jurisdiction to hear applications for

the enforcement of an Award in the QFC.

(3) The party relying on an Award or applying for its enforcement shall supply the

duly authenticated original Award or a duly certified copy thereof, and the

original Arbitration Agreement referred to in Article 10 or a duly certified copy

thereof.

(4) The QFC Tribunal may on the application of a party for the enforcement of an

Award make:

(A) an order to enforce the Award in the QFC; and

(B) any other orders ancillary to the enforcement of the Award.

ARTICLE 43 – GROUNDS FOR REFUSING RECOGNITION OR

ENFORCEMENT

(1) The QFC Tribunal may refuse to recognise or enforce an Award only:

(A) at the request of the party against whom it is invoked, if that party

furnishes to the QFC Tribunal proof that:

(i) a party to the Arbitration Agreement referred to in Article 10 of

these Regulations was under some incapacity; or the said

agreement is not valid under the law to which the parties have

subjected it or, failing any indication thereon, under the law of the

country where the Award was made;

(ii) the party against whom the Award is invoked was not given proper

notice of the appointment of an arbitrator or of the arbitral

proceedings or was otherwise unable to present his case;

(iii) the Award deals with a dispute not contemplated by or not falling

within the terms of the submission to Arbitration, or it contains

decisions on matters beyond the scope of the submission to

Arbitration, provided that, if the decisions on matters submitted to

Arbitration can be separated from those not so submitted, that part

of the Award which contains decisions on matters submitted to

Arbitration may be enforced;

(iv) the composition of the Arbitral Panel or the arbitral procedure was

not in accordance with the agreement of the parties or, failing such

agreement, was not in accordance with the law of the country where

the Arbitration took place;

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(v) the Award has not yet become binding on the parties or has been

set aside or suspended by a Court of the country in which or under

the law of which that Award was made; or

(B) if the QFC Tribunal finds that:

(i) the subject-matter of the dispute would not have been capable of

settlement by Arbitration under the laws of the QFC; or

(ii) the recognition or enforcement of the Award would be contrary to

the public policy of the QFC.

(2) If an application for the setting aside or suspension of a Non-QFC Award has

been made to the Court of the Seat of the Non-QFC Award, the QFC Tribunal

may, if it considers it proper, adjourn its decision and may also, on the

application of the party seeking recognition or enforcement of the Non-QFC

Award, order the other party to provide appropriate security.

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PART 5 – INTERPRETATION AND DEFINITIONS

ARTICLE 44 – INTERPRETATION

(1) In these Regulations, a reference to:

(A) a provision of any law or regulation includes a reference to that provision

as amended or re-enacted from time to time;

(B) an obligation to publish or cause to be published a particular document

shall, unless expressly provided otherwise in these Regulations, include

publishing or causing to be published in printed or electronic form;

(C) a calendar year shall mean a year of the Gregorian calendar;

(D) a month shall mean a month of the Gregorian calendar;

(E) the masculine gender includes the feminine and the neuter; and

(F) references to a person includes any natural or judicial person, body

corporate, or body unincorporate, including a branch, company,

partnership unincorporated association, government or state.

(2) The headings in these Regulations shall not affect its interpretation.

(3) A reference in these Regulations to a Schedule, an Article or a Part using a

short form description of such Schedule, Article or Part in parenthesis are for

convenience only and the short form description shall not affect the

construction of the Article or Part to which it relates.

(4) A reference in these Regulations to a Schedule, an Article or a Part by number

only, and without further identification, is a reference to a Schedule, an Article

or a Part of that number in these Regulations.

(5) A reference in an Article or other division of these Regulations to a paragraph,

sub-paragraph or Article by number or letter only, and without further

identification, is a reference to a paragraph, sub-paragraph or Article of that

number or letter contained in the Article or other division of these Regulations

in which that reference occurs.

(6) Each of the Schedules to these Regulations shall have effect as if set out in

these Regulations and references to these Regulations in which that reference

occurs.

(7) Any reference in these Regulations to “include”, “including”, “in particular”,

“for example”, “such as” or similar expressions shall be considered as being

by way of illustration or emphasis only and are not to be construed so as to

limit the generality of any words preceding them.

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ARTICLE 45 – DEFINITIONS

The following words and phrases shall where the context permits have the meanings

shown against each of them:

Administered

Arbitration

an Arbitration conducted pursuant to the rules of a

recognised arbitration institution

Arbitration any arbitration whether or not it is an Administered

Arbitration

Arbitration

Agreement

has the meaning set out in Article 10 of these

Regulations

Arbitral Panel a sole arbitrator or a panel of arbitrators

Award an Arbitration award made under the Seat of the QFC

either within or outside the jurisdiction of the QFC

Council of Ministers the Council of Ministers of the State

Court means a court or organ of the judicial system of a state

including the QFC Tribunal

Minister the Minister of Economy and Commerce of the State

Non-QFC Award an Arbitration award made in a Seat other than that of

the QFC (including in the State) in relation to a dispute

arising out of or in relation to the QFC

QFC the Qatar Financial Centre

QFC Authority the Qatar Financial Centre Authority established

pursuant to Article 3 of the QFC Law

QFC Law Law No.(7) of 2005 of the State

QFC Tribunal the QFC Tribunal as established by the TDR Regulations

Regulations Regulations enacted by the Minister in accordance with

Article 9 of the QFC Law

Seat the juridical seat which indicates the procedural law

chosen by the parties to govern their arbitration awards

as designated in Article 26 of these Regulations

State the State of Qatar

TDR Regulations Regulations enacted or to be enacted by Minister with

approval by the Council of Ministers pursuant to the QFC

Law relating to the Tribunal and the resolution of

disputes